A summary of our conversations and plans so far, including discussions at the recent Kosmos Summit:
- Contributors and kredits holders can withdraw funds for expenses, monthly grants, and dividends to their wallet, automatically managed by a smart contract, and based on rules and calculations agreed upon beforehand
- Trial expense reimbursements, monthly grants, and dividends, based on ongoing testnet data, and paid out manually from a multi-sig wallet with core contributor keys
Ideas for grants/dividends
- Must be a mix of covering current development and rewarding people for past contributions and overall amount of personal investment in the project
- Must be fair for both current long-term contributors, who have never seen rewards, but also incentivize new contributors properly, Problem for new contributors to reach kredits amounts on par with early contributors in reasonable amount of time? Need to factor in overall dilution with more contributors!)
- Pay out 10% of budget monthly (leaving a part of the budget for projected expenses untouched). This effectively always leaves a runway, with payouts automatically decreasing every month, unless new money flows into the system -> incentive for contributors to make the project financially sustainable
- Pay out n% of monthly grants only for kredits earned during the last month (actually since last payout block). Pay out the remaining n% as dividends to all current kredits holders (more difficult without self-payouts; perhaps needs to go to ERC271 holders as well for now).
- There’s a simple modeling sheet available to play with the relevant numbers and percentages for example contributors over multi-year timeframe. See below.
- Create some kind of shared document/sheet (see reply below) (@Kredits)
- Pick block height for beginning of first cycle (@Kredits)
- Propose/decide block amount for general cycle lengths (@Kredits)
- Decide on initial dividend numbers/rules/concept/calculation (@Core)
- Find alternative term for “dividends” (describes the concept well, but is too reminiscent of traditional corporations) (@Core)